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KHOBAR, Saudi Arabia, Saudi Basic Industries Corp (SABIC) said on Sunday it has named Yousef Abdullah al-Benyan as its new chief executive officer, replacing outgoing head Mohamed al-Mady.
Benyan was named executive vice president of corporate finance for SABIC last month, replacing Mutlaq al-Morished who joined National Industrialization Co (Tasnee) as its CEO in December.
New Saudi King Salman appointed Mady as the president of the country’s military industries corporation, a royal decree published on the state news agency SPA said on Saturday.
Mady has been working at SABIC, one of the world’s largest petrochemicals companies, since 1976.